Japanese investment firm SoftBank Group, along with Dragoneer, Sequoia Capital, TPG and Tencent, are looking to purchase up to $8 billion shares from existing Uber shareholders. They want to offer $32.96 per share, more than a 30% discount from the $48.77 the company was last valued. at.

SoftBank has already confirmed that existing shareholders Benchmark Capital and Menlo Ventures intend to sell shares. But sources tell us they might not be willing to sell at SoftBank’s desired share price and that the group of investors may have to offer more.

Other Uber shareholders, including investors and employees, have an opportunity to sell shares if they have at least 10,000 of them. They also need to be “accredited,” meaning they have $1 million in assets or make $200,000 per year.

If the secondary gets done, SoftBank will also be making a $1 billion direct investment in Uber at its last private valuation of nearly $70 billion. Benchmark Capital will also be dropping its lawsuit against former Uber CEO, Travis Kalanick, which related to board appointments.

Uber did not have a CEO last quarter. Since then, Uber has appointed former Expedia CEO Dara Khosrowshahi to the top job. The company has yet to fill the position of CFO.